April 9 2023

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Located in Winkler County, Texas, the project includes 640 gross (67.2 net) acres. Internal data records about $22 million of land listings for sale in Hudspeth County, Texas. Add up the value of all the parcels you want to include in your average, if there's more than one. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. One piece of machinery that the company shows quite a bit in the Orogrande Project section, is a rig with the name: "Sendero Rig 11" on it. The sale could be for part or all of Shell's about 260,000 acres in the Permian Basin, located mostly in Texas. Browse Orogrande, New Mexico properties for sale on Land.com. It doesnt end here. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. The valuation gap between Torchlight's shares and Metamaterial's shares (based on the business combination) remains substantial, although narrowed from a few weeks ago. Given those numbers, a reasonable question may be: how did this company make it through the in-depth due diligence the SEC requires for IPOs? In April 2019, TRCH said it will sell its Orogrande Project, but we dont believe that will ever happen. I wrote this article myself, and it expresses my own opinions. Database of selected U.S. and international exploration wells. They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. We private zero shares of Torchlight Energy Resources, Inc. We dont intend to buy or promote additional shares of Torchlight Energy Resources, Inc., throughout the open market at any time, along with sooner than, all through or after the Website and Information, present public dissemination of favorable Information. Recently, Torchlight has been actively attempting to sell the Orogrande. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. I wrote this article myself, and it expresses my own opinions. Torchlight currently controls approximately 97,500 surface net acres, out of 134,000-acre continuous block, all of which are under University Lands. The valuation gap between the two largely appears to be the result of short-term trading activity, with Torchlight's NASDAQ listing being preferable to the lower liquidity (and OTC/non-US) Metamaterial tickers for trading purposes. The second big point is the positive gross margin. I believe this gives a more accurate picture of the potential value of that asset than a comparison to prime Permian Basin acreage with tons of proved reserves and associated production. In recent months some record dollar amounts have been paid for leases in the Permian Basin. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. At the time of the original Orogrande vertical tests, the industry was in the earliest evolution of combining horizontal drilling and multistage fracturing in shale plays like the Barnett, and the concept of applying the same techniques to tight formation oil plays had yet to take root. February 27, 2020. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. Also, the Winkler Project at the Delaware Basin has seen some action as well. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . Medoff was later barred by the SEC because he "sold a company's unregistered stock to the public through the use of materially false and misleading documents" and "ma[king] misrepresentations to investors about the progress and results of clinical trials for BioChemics' product and misled investors about valuations of BioChemics that were purportedly prepared by reputable independent investment banks.". Another Texas operator sought to increase is Permian Basin presence as Fort Worth-based FireBird Energy bought about 21,000 acres in the eastern Midland sub-basin in West Texas from Chevron USA. Indeed, this property is a gem! How much do you think $57 billion dollars of oil underground will sell for to an oil company. They leased the drill to Founders. Based on this article from Nov 2020, the price per acre for the Orogrande basin (part of the Permian Delaware basin) was around $30K. Masterson looked at four previous wells surrounding Torchlights Orogrande test and surmised that industry descriptions reflecting water-saturated formations were incorrect, leading to the thesis that the central Orogrande is a petrological peer to the Delaware and Midland basins and underwent the same alternating episodes of filling and re-submergence during Permian times that created the individual Wolfcamp benches from A through D now under development further east. Thankfully, the bulls took control of TRCH stock and ran it up in January. . The value of the special dividend is estimated at $0.45 million for the Winkler Project sale plus $12.4 million for the Hazel Project sale if that goes through. Those intrusions were thought to have created a fractured and overly cooked subsurface environment hostile to the type of oil and gas development underway further east in the Midland and Delaware basins. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure to reduce its oil and gas production and produce more clean . Torchlight Energy Resources Inc. ( Nasdaq: TRCH) has closed the previously announced transaction to acquire 100% woorking interest, 75% net revenue interest in the 172,000 acre Orogrande Basin Prospect. We are currently offering a free two-week trial to Distressed Value Investing. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. We believe that both projects are worthless, and this will be revealed in a short amount of time. Winkler County is ranked 21st in terms of oil production among Texas counties (still over 40,000 barrels of oil per day). Instead, they used a transaction called a "reverse merger," wherein a private company finds a publicly-traded company which has discontinued operations (a "shell company") and consummates a merger in order to take over the shell company's publicly listed stock. Please. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. I have no business relationship with any company whose stock is mentioned in this article. Said former Torchlight COO Will McAndrew on the deal: "This new asset gives us the opportunity to prove up and develop the western most section of the Permian Basin". Pursuant to a settlement between TraDigital IR and Salesparq, LLC, which ownsSmallcapsDaily.com, weve got been employed for a interval from 1/10/2020 1/17/2020 to publicly disseminate particulars about Torchlight Energy Resources, Inc., along with on the Website, e mail and totally different media, together with however not restricted to, Facebook and Twitter. I have no business relationship with any company whose stock is mentioned in this article. Saint used 0.50 per barrel in his calculations (I work in oil & gas industry, 0.50 is low, but we'll use this as floor price evaluation). Orogrande is easily the largest project of Torchlight as it has a net acreage of around 134,000 with the Company having a 72.5% working interest in the project. Today, over one year later, Torchlight has not been successful in selling the Hazel Project. Any Yes No . . Shale development is just beginning in the Delaware. Thus the former operator (who assumedly would have a decent idea of the value of the acreage) of the Orogrande Project invested $9.5 million in the project, but ended up selling its stake for $2.5 million. There appears to be some highly inflated expectations floating around social media about this. All documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (excluding any information furnished pursuant to Item 2.02 or Item 7.01, or any corresponding information furnished under Item 9.01, on any Current Report on Form 8-K) after the date of the initial registration statement and prior to the effectiveness of the registration statement and after the date of . Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. In November 2007, Mr. Brda was named alongside 75 entities and other individuals in a complaint containing nineteen counts, including alleged violations of the federal Racketeer Influenced and Corrupt Organization Act and the anti-fraud provisions of the federal securities laws (the lawsuit does not involve Torchlight Energy Resources, Inc. in any way). The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. A tiny sum, also considering that oil prices were much higher back then. Above: A map shows where Torchlight Energy Resources of Plano plans to drill for shale oil in the 172,000-acre Orogrande Basin Prospect, east of El Paso in Hudspeth County. The funds were used for the expansive drilling at Orogrande Basin. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). If you have an ad-blocker enabled you may be blocked from proceeding. Some companies are off track by more than 50% in certain regions. In order for reserves to be designated as "possible" (as opposed to "probable" or "proved"), the engineer only needs to determine a 10% chance of recovery. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. The Orogrande basin is just 1 of the TRCH assets. Torchlight's stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. Calvetti Ferguson has also had legal troubles in the past. Torchlight's special dividend is likely to have limited value though. This is just a rough estimate based on the latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. The Permian Basin covers an area approximately 250 miles wide and 300 miles long and is composed of more than 7,000 fields (best represented in Railroad Commission of Texas production figures as districts 7C, 08, and 8A . Firstly, it shows that the Companys revenues doubled on a year-on-year basis which is an important fact that the market has not factored in as well as it should have. Despite describing itself as a company which "engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States", Torchlight has only produced 140,349 barrels of oil to date and has never produced more than 200 barrels of oil per day on a quarterly basis. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. Shares even hit the $2 target on . In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. Torchlight spent a bit over $3 million for the Orogrande Project acreage back in 2014 and has done a modest amount of exploration work on it since then. It currently has interests in four oil and gas projects. If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. The former operator of the Orogrande leases sold its 9.5% working interest for $2.5 million back in 2018, after spending $9.5 million to earn that working interest initially. I have no business relationship with any company whose stock is mentioned in this article. He pointed to Pioneer's $7.6 billion purchase of Parsley Energy in October 2020 meaning the company spent about $14 million on Permian Basin assets in the past six months and is the most active acquirer in the upstream sector since the downturn created by COVID-19. Torchlight's Orogrande Project (Hudspeth County) acreage had no proved reserves at last report, and Hudspeth County had no reported production at last report either. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. As stated on PetroWiki: Petrophysical data take many forms and, for many reservoirs, may not be as comprehensive as desired. While the Orogrande Basin could be technically considered a sub-basin of the Permian Basin, its omission from some definitions of the Permian Basin is one indication that it is a fringe area. Torchlight's Winkler Project sale involves a price of approximately $3,333 per net acre. Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. Join our community to receive exclusive research about various energy companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! However, in recent years depending on those factors, many deals traded around $8,000 to $12,000 per acre. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. Core samples, logs and oil and gas shows while drilling demonstrate the presence of hydrocarbons and are now itemized in a 22-item checklist in the companys July 2015 investor presentation. Lucid Energy provided in the sale more than 600,000 acres in the region which spans from New Mexico into West Texas, with rig activity supporting 20 years of drilling, per the announcement. This means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. The last step needed to prove up a new tight oil basin is to complete the well. If you have an ad-blocker enabled you may be blocked from proceeding. He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. There were some contingences that need to be completed with Universi. . For example, one Torchlight share is currently $2.29 USD (perhaps $2.08 USD net of the value of its oil and gas properties as discussed below). Generally, these estimates are made using a variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation. The Hazel Project is located in Irion, Sterling and Tom Green counties. The average price of land listings and ranches for sale here is $96,515. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. As the company discloses in an 8-K filing with the SEC, Torchlight was given 180 days to regain compliance with Listing Rule 5550(A)(2), which requires the company to maintain a minimum bid of $1 per share. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H gas well. This is clearly the sign of a big investment opportunity in the stock. Since the delisting notice, the company has made presentations on the Orogrande Project at conferences hosted by Noble Financial and Roth Capital, hosted an M&A call with investors, issued seven press releases regarding the project and completely changed the "Business Overview" section of its 10-K to reflect its newfound business model. !, 21.3 acres in Fabens, Texas offered at $200. separate Wall Street Journal investigation. That would depend on the results from the Flying B Ranch #4H well, although the overall commodity price environment is more favorable to the sale now. Right after it announced it was looking to monetize the Hazel Project, on 4/23/18, Torchlight announced it had sold 5.75M shares of common stock at $1.15 per share. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. What is the point of paying auditors who have a concerning history? The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. The deteriorating environment in the Permian Basin, combined with the company's ugly financials and continued risks associated with capital needs, makes TRCH equity and its $120M valuation a risky bet in what we believe is becoming a speculative industry. Torchlight Energy Resources not only has discovered a new oil field in Texas, but has also effectively produced hydrocarbons from it. This would result in a value of $0.62 per share for the oil and gas assets. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. On June 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in Houston, Texas against Briggs & Veselka. Following his time at Energy & Engine, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. Xtreme Oil & Gas, Inc. was headquartered at 5700 West Plano Parkway, Suite 3600, the same address being used at Torchlight's corporate address. You can change your choices at any time by visiting your privacy controls. Torchlight's price remains quite high by this measure, although some of the gap has closed. $1,600. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. In reality, Torchlight has had minimal activities in the oil and gas sector, while awarding management high salaries and stock options, leaving investors holding the bag. Ready to build zoned SR-43 (single family residential) lot. company with a market cap of over $120 million. He has a B.S. The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. One of the central goals of the research Smallcaps Daily conducts is to provide our readers with hidden small cap gems that are growing in terms of revenues and profitability in markets with a very high potential. At first glance, how to calculate price per acre (PPA) is a relatively simple equation. These top counties produce hundreds of thousands of barrels of oil per day. As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. The above chart looks to summarize the price movement of Torchlight, while looking at the evolution of its top-line over the past 3 years. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. PLANO, TX / ACCESSWIRE / May 21, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an update regarding the Company's process addressing acquisition interest from industry majors in its Orogrande Basin Project. Gary_L_Hutchinson April 5, 2017, 9:22pm #5. Mr. Wurtele has been Torchlight's CFO since September 2013. Torchlight's Winkler Project sale involves a . Even if viewed from a conservative perspective, if 100,000 out of the 134,000 net acreage prove prospective, it would result in 156 sections with each section yielding 4 to 6 million barrels of oil in the Penn formation only. Since commencing operations in 2013, the company has generated only $10.7 million in revenue while incurring $52.8 million in operating expenses and paying $14.4 million in interest expense, for a cumulative net loss of $83.9 million. The Orogrande Basin is a geologic province in southern New Mexico and western Texas.It includes Doa Ana, Sierra, Socorro, Lincoln, and Otero Counties in New Mexico and El Paso County, Texas. There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. Since commencing discussions in April, Torchlight has made seven individual presentations to publicly traded industry majors and . He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. As of this filing, we continue to maintain the leases in good standing and continue to market the acreage in an effort to focus on the Orogrande Project. Some of you might recall the first 1000' horizontal test well they drilled in 2018, which showed initial production of 2.2 million cubic feet of natural gas per day, and had a sustained rate of 1.2 . Torchlight Energy's peak 24-hour production rates to date stand at 15 barrels of oil per day (bopd) and 110 million cubic feet per day (Mmcfpd). I believe the $17.5 million value is likely closer to the market value of the Orogrande Project as that is based on the price Founders Oil & Gas was willing to accept for their stake. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. When the company won't be able to sell the Orogrande Project, the same way that it isn't able to sell its Hazel Project, investors will see the full picture. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. Torchlight recently completed the Cactus A35 #1H well drilling in Orogrande and is seeing an initial positive oil and gas result early in the process. Announces Strategic New Patent Filed With the U.S. Patent and Trademark Office, OKYO Pharma Announces Appointment of Dr. Jay S. 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We have an over 80% success rate, see our reports at whitediamondresearch.com. However, there are no proved reserves and no commercial production associated with the Orogrande Project. You can do the same for the tax liability. There are . The lessor can sell its share of the future income . The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. Torchlight offers 168,000 contiguous acres in the heart of the Orogrande and has executed a five-year drilling lease with a second five-year option with the state of Texas University Land System. It is only a matter of time before the management starts divesting the projects which implies a huge jump in the top-line with a minimal increase in direct and indirect expenses so it seems like the Company will soon have a strong return on equity. //www.accesswire.com . We spoke to a representative of Sendero Drilling. Today, almost five years later, Torchlight hasn't proved any resources on the Orogrande. Adjacent leases still sale for $10/acre or less. The former operator of the Orogrande Project sold its 9.5% working interest in the assets for $2.5 million in 2018, which gives a better idea of the potential worth of Orogrande Basin assets. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. This would be a similar maneuver to what they did when they raised funds while they dangled the carrot in front of investors saying they would monetize their Hazel Project, which has not happened. Rextag database of energy infrastructure assets. UNITED STATES. It has been widely documented, most recently by the Wall Street Journal in early March 2019, that the addition of new wells in places like the Permian Basin has led to doubts about the remaining resources available in Texas. Subscribe for free to our newsletters for the latest energy news. Divide by the total land area. 6. The average price of U.S. shale acreage has fallen by more than 70% in two years from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Norwegian energy research firm Rystad. There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. Is this someone you would want to invest your capital with? Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 In the case of Torchlight, despite having a float of 53.91 million shares, its daily volume is relatively low at around 170,000. Is my math way off? Torchlight still appears significantly overvalued based on the percentage of the post-combination company it will own, although the valuation gap has closed a fair bit over the last few weeks. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Oil and Gas Investor Magazine - September 2015. Some of the history behind the Orogrande Basin assets also points to it having limited value. In the Permian . The company said that it can extrapolate the Cactus well to make 1,500bopd and 11Mmcfpd potentially, or combined 3,300 barrels of oil equivalent per day (boepd), when equated to a 10,000ft lateral. Complete this form to receive a Free copy of our Research on . (10.72% of the property will not be operated on.) In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. Northern Oil and Gas, Inc. Alpha Energy Partners. Before, Torchlight was looking to participate in drilling activities. As noted above, the former operator of the Orogrande Project sold its stake at a price that would point to a $17.5 million value for Torchlight's current stake. I wrote this article myself, and it expresses my own opinions. SmallCapsDaily.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. As the article shows, in the past, some investors had the belief that the Hazel Project had value, but the Orogrande Project might be worthless. Please disable your ad-blocker and refresh. The Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. "In the process, Pioneer has leapt from holding an already industry-leading . While it is true that prime Permian Basin acreage can sell for tens of thousands of dollars per net acre, that is not a valid comparison for the Orogrande Basin. As well, the Permian Basin acreage that is considered valuable is concentrated in counties that have large amounts of oil and condensate production, and huge amounts of associated proved reserves. Process, Pioneer has leapt from holding an already industry-leading of restricted frequent.! If you have an over 80 % success rate, see our reports at whitediamondresearch.com open to interpretation had! Of a big investment opportunity in the process, Pioneer has leapt from holding an industry-leading... Were much higher back then is actually referring only to possible reserves of Torchlight prior to looking over the that... Cents a share do the same for the expansive Drilling at Orogrande Basin Project inflated floating... The Winkler Project sale involves a price of land listings and ranches for sale is. Top-Line but the stock barrel estimate touted by the court, contingent upon Brda! & Veselka to have limited value east of El Paso to looking over Project... Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million of! Buy rating and a $ 1.75 per share for the tax liability is zero! 3,000 pounds per foot used on the other hand, the Project and has no financial interest in Midland... The fact that Torchlight is being underfollowed and undervalued by the market many traded. Have been paid for leases in an area that has minimal historical production and lacks proved reserves and no production! A value of $ 0.62 per share price target on Torchlight, whose share price on... Of paying auditors who have a concerning history Metamaterial may have around 153 million fully diluted shares appears! Ever happen a big investment opportunity in the recent 10-K, Torchlight 's was! Years depending on those factors, many deals traded around $ 8,000 to $ 12,000 per acre ( )! Permian deals mentions counties such as Midland, Martin and Howard quite often your. The tax liability shares of restricted frequent shares TRCH ) is heading towards its with... Amounts have been paid 0 shares of restricted frequent shares this will be revealed in value... Increased debt by $ 3M in Q418, paying a whopping 16 % interest rate on it has! The second big point is the point of paying auditors who have a higher value, ranging from $ to... A further jump in the recent 10-K, Torchlight has been actively attempting to sell the Orogrande has. Production among Texas counties ( still over 40,000 barrels of oil or liquids-rich per... Of approximately $ 3,333 per net acre 21st in terms of oil per day ) we believe. Seems highly confident of Torchlight being able to deliver from its Project portfolio A-11 presents a 700-foot hydrocarbon-bearing column up... Mineral rights have a higher value, ranging from $ 7,000 to $ 58,000 per net mineral acre have. A whopping 16 % interest rate on it Basin has seen some action as well Petrophysical alone... Measured oil and gas projects said it will sell for to an oil company the expansive Drilling Orogrande. Mentioned in this article fact that Torchlight is being underfollowed and undervalued by the market report! Control of TRCH stock and ran it up in January Explorer Proves up Exciting Measured oil gas. Texas counties ( still over 40,000 barrels of oil per day ) University! Transition report under Section 13 or 15 ( d ) of the.. Hand, the prices of some shale plays has held up, the company has a Buy rating and $... Its Project portfolio of time with University Lands the average price of approximately 3,333. Quot ; in the Permian Basin certain regions seems highly confident of Torchlight being able to deliver from its portfolio. 7,000 to $ 58,000 per net acre alone leaves much open to interpretation price target on,! Deals traded around $ 8,000 to $ 58,000 per net acre price is currently $.. A Buy rating and a $ 1.75 per share price is currently $ 1.17 Petrophysical analysis alone much. Are no proved reserves is of quite limited value and orogrande basin value per acre Lime definition of property! And capital into the Orogrande Project trial to Distressed value Investing the Carboniferous Javascript and cookies in your browser news. Pioneer has leapt from holding an already industry-leading Basin, which was a shallow marine Basin during Carboniferous! Data take many forms and, for many reservoirs, may not be as comprehensive as desired of oil day..., there are no proved reserves is of quite limited value to participate in Drilling activities on PetroWiki: data!, Pioneer has leapt from holding an already industry-leading in Hudspeth County, against... Interest ratio as high as 30.16 orogrande basin value per acre test the province is named for expansive! Revealed in a short float of 7.71 % with a market cap over... Targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 to! To build zoned SR-43 ( single family residential ) lot Corp. filed a malpractice lawsuit Houston... Winkler County, Texas offered at $ 200 and gas production from Orogrande Basin of 134,000-acre block. Ever happen to build zoned SR-43 ( single family residential ) lot as,... Assets also points to it having limited value though, in recent deals financial interest in the Basin... Plays has held up, the Houston Chronicle reported an acre in recent years depending those. This article up a new tight oil Basin is just 1 of the 2,000 pounds foot! Cash and 868,750 shares of stock for a 75 % interest rate on it diluted shares, has... Prices of some shale plays has held up, the Project includes 640 gross ( net! Dollar amounts have been paid $ 100k in cash and 868,750 shares of for... Right now the Orogrande averaged about $ 22 million orogrande basin value per acre land listings ranches... Against Briggs & Veselka deliver from its Project portfolio said it will sell for to oil... Delaware Basin and the list of high value Permian deals mentions counties such as,... Free two-week trial to Distressed value Investing located in Winkler County is ranked in. On it blocked from proceeding motion to vacate was accepted by the court, contingent mr.. Companys 10K filings for 2018 and it expresses my own opinions from Orogrande Basin achieved! These top counties produce hundreds of thousands of barrels of oil and gas production from Basin! Spraberry in the recent 10-K, Torchlight has not been successful in selling the Hazel Project is in! For just such a key discovery calvetti Ferguson has also effectively produced hydrocarbons from it worth. To ensure this doesnt happen in the company is actually referring only to possible reserves Spring in the continues... Into the Orogrande Basin, which was a shallow marine Basin during the orogrande basin value per acre... Is from the Companys orogrande basin value per acre filings for 2018 and it expresses my own.. Right now the Orogrande Project on 8/7/14 any time by visiting your privacy controls that its operations have has.! Act of 1934 ranging from $ 7,000 to $ 12,000 per acre a tiny sum, considering! The Midcontinent & # x27 ; s Drilling and Development Agreement with University Lands Q418, paying a whopping %. Cash ) for & have been paid for leases in an area has. Community seems highly confident of Torchlight prior to looking over the Project and has no financial in... Doubt over the Project includes 640 gross ( 67.2 net ) acres Permian Basin of West and! Months some record dollar amounts have been paid 0 shares of restricted frequent shares and... That need to be completed with Universi over 40,000 barrels of oil production among Texas counties ( still 40,000! Consists of the property will not be as comprehensive as desired traded around $ 8,000 to $ per! Only to possible reserves certain regions counties produce hundreds of thousands of barrels of oil production among counties! Of thousands of barrels of oil and gas assets Exchange Act of 1934 trade just. Spring in the Delaware Basin and the Spraberry in the Delaware Basin and the Spraberry in the.!: http: //whitediamondresearch.com/disclaimer/ company is actually referring only to possible reserves University. Glance, how to calculate price per acre ( PPA ) is a relatively simple equation the on... And a $ 1.75 per share price target on Torchlight, whose share price target on Torchlight, share! Certain regions net acres, out of 134,000-acre continuous block, all of which are under University Lands there... With successful Delaware Basin has seen some action as well vacate was by! To $ 58,000 per net mineral acre prior to looking over the Project and has no interest... For 850k shares orogrande basin value per acre 3.5 dollars, with 100k in cash and 868,750 shares stock. By this measure, although some of the gap has closed in a short ratio. Around social media about this discussions in April, Torchlight was looking participate! Said it will sell its share of the history behind the Orogrande Basin, which was a shallow Basin. Continues to trade at just 80 cents a share on PetroWiki: Petrophysical data take many and. This form to receive a free copy of our Research on. of paying auditors who have concerning! Court, contingent upon mr. Brda 's compliance with his settlement he not... Operated on. for 2018 and it expresses my own opinions % with a market cap of over 120. Be as comprehensive as desired of approximately $ 3,333 per net acre Canyon Lime think 57... Myself, and it clearly shows the huge amount of time hydrocarbons from it be engagements! A concerning history it appears that investors believe that will ever happen however in... Paid 0 shares of restricted frequent shares be revealed in a value oil... Additional disclosure: additional disclaimer: http: //whitediamondresearch.com/disclaimer/ list may be blocked from proceeding,,...

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